Worth Watching Stocks News Buzz: Cognizant Technology Solutions Corp (NASDAQ:CTSH), ON Semiconductor Corp (NASDAQ:ON), Halliburton Company (NYSE:HAL)

On Monday, Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH), added 5.64% and closed at $50.40 in the last trading session. The last trading range of the stock ranges between $48.50 and $51.26. Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Cognizant Technology Solutions Corporation (CTSH) stockholders concerning whether the company’s officers and board of directors violated the federal securities laws.

On September 30, 2016, Cognizant Technology filed a Form 8-K with the United States Securities and Exchange Commission announcing the abrupt resignation of its President, Gordon Coburn, on September 27, 2016. The Company also revealed it “is conducting an internal investigation into whether certain payments regardingfacilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act and other applicable laws[]” and “voluntarily notified the United States Department of Justice . . . and United States Securities and Exchange Commission . . . and is cooperating fully with both agencies.”

This news drove the price of Cognizant shares down as much as 17% during heavy intra-day trading on September 30, 2016. Bloomberg observed, “Coburn was the face of the company to shareholders.” The Company failed to reiterate its prior earnings guidance in the Form 8-K.

ON Semiconductor Corp (NASDAQ:ON), DROPPED -0.81% and closed at $12.22 in the last trading session. The last trading range of the stock ranges between $12.19 and $12.69. The company’s Market capitalization is $5.17 Billion with the total Outstanding Shares of 415.55 Million. ON Semiconductor Corporation (Nasdaq: ON) (“ON Semiconductor”) declared recently that ON Semiconductor has successfully closed the refinancing of its secured debt facilities. The refinancing transaction amended ON Semiconductor’s secured debt facilities documentation in order to, among other things, (i) replace and refinance in full its senior secured term loans with a new tranche of refinancing term loans with a 1.25% reduction in the applicable margin, (ii) increase the size of its senior secured term loan facility by $200 million to a total aggregate amount of $2.4 billion, (iii) reduce the applicable margin with respect to the revolving credit facility by 1.25% and (iv) amend certain provisions to permit the entry by ON Semiconductor’s auxiliaries into secured hedging arrangements with qualified institutions and to facilitate certain restructuring transactions and intercompany intellectual property transfers intended to achieve the efficient integration of ON Semiconductor, its auxiliaries and its attained entities (collectively, the “Transactions”).

“This refinancing further facilitates us to generate higher shareholder value from our recently closed acquisition of Fairchild Semiconductor,” said Bernard Gutmann, Executive Vice President and Chief Financial Officer of ON Semiconductor. “A lower cost of debt not only accelerates our progress towards our financial targets for the acquisition of Fairchild Semiconductor, but also facilitates faster deleveraging of our balance sheet.”

Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, HSBC Securities (USA) Inc. and BMO Capital Markets Corp. acted as Joint Lead Arrangers and Joint Bookrunners, and BBVA Compass acted as co-manager for the Transactions. This declarement is for informational purposes only.

Halliburton Company (NYSE:HAL), gained 0.07% and closed at $44.90 in the last trading session. The last trading range of the stock ranges between $44.54 and $45.19. During the 52-week trading session the minimum price at which share price traded, registered at $27.64 and reached to max level of $46.90. Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company’s Completion and Production segment offers production enhancement services, counting stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment. It also provides completion tools that offer downhole solutions and services, counting well completion products and services, intelligent well completions, liner hanger systems, sand control systems, and service tools; pressure control services comprising coiled tubing, hydraulic workover units, and downhole tools; and pipeline and process services, such as pre-commissioning and maintenance, subsea pipeline, conventional pipeline, and process services. In addition, this segment offers oilfield production and completion chemicals and services; electrical submersible pumps and progressive cavity pumps; and installation, maintenance, repair, and testing services. The company’s Drilling and Evaluation segment provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste administration services; and drilling systems and services. It also offers wireline and perforating services that include open-hole logging, cased-hole and slickline, borehole seismic, and formation and reservoir solutions; and drill bits and services comprising roller cone rock bits, fixed cutter bits, hole enlargement, and related downhole tools and services, in addition to coring equipment and services. In addition, this segment offers integrated exploration, drilling, and production software, in addition to related professional and data administration services; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and oilfield project administration and integrated solutions.

Leave a Reply

Your email address will not be published. Required fields are marked *